Nexor reports record 40% growth in 2002 and expands international operation with new office in Australia
19 March 2003 – Nexor, a provider of high-tolerance messaging and directory solutions, today reported record revenue and growth figures for 2002. While demand in Europe for Nexor's solutions continued to show a significant increase, bucking the overall downward IT trend, growth in revenue from both Canada and Australia helped drive the company's impressive results.
Total revenues rose from £3.5 million in 2001 to £5 million in 2002, a 40% increase. Profit on sales rose from £497,000 in 2001 to £1.162 million in 2002, a 133% increase.
Revenues from Canada accounted for approximately 30% of Nexor's turnover in 2002, and were up 460% year-on-year compared with 2001.
Additionally, Nexor has announced the opening of a dedicated sales office in Sydney, Australia, and the appointment of Peter Laytham as country manager for Australia and New Zealand. With existing clients including the Australian Department of Defence, Nexor views the region as an excellent opportunity for growth.
Steve Kingan, CEO Nexor, explains, 'In the last two years, Nexor has seen considerable growth in sales and profitability across all the markets in which it operates. While many in the industry struggle to break even, Nexor continues to expand and deliver market-leading solutions. Australia and New Zealand represent a significant market for us and today’s announcement is an excellent opportunity to further expand our portfolio of customers and offer local support.'
Commenting on his appointment, Peter Laytham said, 'Nexor has an international pedigree for delivering messaging and directory solutions in some of the world’s most demanding and mission-critical environments. These include many of the world’s armed forces and government agencies, and all of the European Union National Central Banks. I am delighted to be given the opportunity to take market-leading solutions into this region.'
For further information, please info [at] nexor [dot] com (subject: Nexor%20Press%20Release) (contact Wendy Draper )
